VIRGINIA RETIREMENT SYSTEMS ET Al Sells 74,200 Shares of GoDaddy Inc. $GDDY

VIRGINIA RETIREMENT SYSTEMS ET Al trimmed its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 16.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 376,500 shares of the technology company’s stock after selling 74,200 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in GoDaddy were worth $51,516,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vident Advisory LLC boosted its holdings in shares of GoDaddy by 89.7% during the 1st quarter. Vident Advisory LLC now owns 4,115 shares of the technology company’s stock worth $741,000 after buying an additional 1,946 shares during the period. Nomura Holdings Inc. lifted its position in GoDaddy by 25.0% during the first quarter. Nomura Holdings Inc. now owns 5,777 shares of the technology company’s stock worth $1,041,000 after acquiring an additional 1,156 shares during the last quarter. MAI Capital Management lifted its position in GoDaddy by 8.7% during the first quarter. MAI Capital Management now owns 1,027 shares of the technology company’s stock worth $185,000 after acquiring an additional 82 shares during the last quarter. Focus Partners Advisor Solutions LLC bought a new stake in shares of GoDaddy during the first quarter worth approximately $260,000. Finally, Maverick Capital Ltd. grew its position in shares of GoDaddy by 107.9% in the first quarter. Maverick Capital Ltd. now owns 3,994 shares of the technology company’s stock valued at $719,000 after purchasing an additional 2,073 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Amanpal Singh Bhutani sold 6,932 shares of GoDaddy stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $886,880.08. Following the transaction, the chief executive officer directly owned 399,133 shares of the company’s stock, valued at $51,065,076.02. This trade represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brian Sharples sold 500 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $133.11, for a total transaction of $66,555.00. Following the transaction, the director owned 19,957 shares of the company’s stock, valued at approximately $2,656,476.27. This represents a 2.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 14,115 shares of company stock worth $1,809,657. Insiders own 0.70% of the company’s stock.

GoDaddy Stock Down 0.3%

Shares of NYSE GDDY opened at $126.11 on Wednesday. The stock has a market capitalization of $17.04 billion, a P/E ratio of 21.78, a PEG ratio of 1.41 and a beta of 0.95. The stock’s fifty day moving average is $128.42 and its 200 day moving average is $144.65. GoDaddy Inc. has a 52 week low of $121.94 and a 52 week high of $216.00. The company has a debt-to-equity ratio of 41.06, a quick ratio of 0.57 and a current ratio of 0.57.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, October 30th. The technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the company posted $1.32 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. Sell-side analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GDDY shares. Benchmark reissued a “buy” rating on shares of GoDaddy in a report on Thursday, December 4th. UBS Group dropped their target price on GoDaddy from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, October 31st. B. Riley reduced their target price on shares of GoDaddy from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Raymond James Financial restated a “strong-buy” rating on shares of GoDaddy in a research note on Friday, October 31st. Finally, Morgan Stanley set a $159.00 price objective on shares of GoDaddy in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and a consensus price target of $181.14.

GoDaddy Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.